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President's
letter

The favorable business environment and discipline in the pursuit of our strategy enabled us to bring about a substantial improvement in financial performance and operating ratios in 2017.

Filip Grzegorczyk
President of the Management Board

In 2017 the Tauron Group achieved a net profit of PLN 1.4bn, an increase of nearly 280% over the previous year.

Marek Wadowski
Vice-President of the Management Board for Finance

Our objective is to offer products and services tailored to our customers’ expectations. Care for a group of nearly 5.5 million customers is also manifested through the optimization and improvement of business at each level of TAURON’s operations.

Kamil Kamiński
Vice-President of the Management Board for Customer and Corporate Affairs

Technological progress is not perceived as a threat, but rather as an opportunity to become a leader of the innovative sector. We want to achieve this by developing new products and managing the infrastructure more efficiently.

Jarosław Broda
Vice-President of the Management Board for Customer
and Corporate Affairs
  • (83) M
    Mining
  • 2 283 M PLN
    Distribution
  • 841 M PLN
    Sales
  • 464 M PLN
    Generation
EBITDA
3545 M PLN
  • Mining
  • Distribution
  • Sales
  • Generation
Strategy
in action
EBITDA

The TAURON Group’s EBITDA in 2017 was PLN 3.5 billion, down 6.3% from 2016.

Marek Wadowski
Vice-President of the Management Board

Tauron is the largest distributor of electricity in Poland. Distribution is one of the foundations of our operations, which is why in 2017 the group’s capital expenditures in this segment amounted to as much as PLN 1.6bn.

Filip Grzegorczyk
President of the Management Board

The results of these surveys keep improving year by year, positioning TAURON as a leader against the competition. Customer satisfaction goes hand in hand with greater loyalty.

Kamil Kamiński
Vice-President of the Management Board

The power unit will generate up to 6.5 TWh of electricity per annum, which corresponds to the demand of 2.5 million households

Jarosław Broda
Vice-President of the Management Board

Business
model

Within the Group, all elements of the power-engineering value chain coexist.

  • hard coal mining
  • generation
  • distribution
  • sales of electricity and heat
  • innovation ecosystem
  • new businesses
More
Innovation
ecosystem

Four priority directions of the innovative and research & development activities indicated in the Strategy have been reflected in the works related to the preparation of the Strategic Research Agenda (SRA) performed in 2017.

Distributed energy

Building new technological and business competencies connected with
construction and management of distributed sources of energy and
energy storage.

Smart grid services

Developing and testing new functionalities of the power and heat grid,
then exploiting the technological potential of the smart grid to create
innovative products and services.

 

The year’s
highlights
Stable results, innovations, financing

Even though last year was awash with challenges, the TAURON Group recorded better financial and operating performance than in the previous year and thus reinforced its potential to generate profits in the future.

The TAURON Group is efficient at raising funds necessary for the execution of its capital expenditure program.

We attach great importance to reinforcing the TAURON Group’s position without compromising energy security.

Key investment

Construction of a 910 MW unit at the Jaworzno III Power Plant, advanced in 50 percent

December 2017
Direction: innovations

TAURON implements the Strategic Research Agenda – a “road map” for innovation in the energy sector

November 2017
The Best Annual Report

TAURON receives the special prize “The Best of The Best” and the first prize for the integrated annual report in the competition “The Best Annual Report”

October 2017
Innovative approach to financing

TAURON acquired hybrid financing worth PLN 400 million from Bank Gospodarstwa Krajowego

September 2017
Eurobonds

TAURON issues Eurobonds worth EUR 500 million

July 2017
Cooperation with PFR

Agreement with Polish Development Fund on cooperation in the construction of a 910 MW unit at the Jaworzno III Power Plant

June 2017
Smart City

TAURON conducts the first real-time readout of energy meters in Poland thanks to the HAN TAURON AMIplus service

January 2017

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